Common use of Involuntary Assignment Clause in Contracts

Involuntary Assignment. No interest of Tenant in this Lease shall be assignable by operation of law (including, without limitation, the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: (a) if Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a proceeding under the Bankruptcy Act in which Tenant is bankrupt; or, if Tenant is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; (b) if a writ of attachment or execution is levied on this Lease; or (c) if, in any proceeding or action to which Tenant is a party, a receiver is appointed with authority to take possession of the Premises. An involuntary assignment shall constitute a default by Tenant, and Landlord shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of Tenant.

Involuntary Assignment. No interest of Tenant in this Lease shall be assignable by operation of law (including, including without limitation, the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: (ai) if Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a proceeding under the Bankruptcy Act any bankruptcy law in which Tenant is the bankrupt; or, if Tenant is a partnership or consists of more than one person or entity, if any partner of the partnership or other such person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; (bii) if a writ of attachment or execution is levied on this Lease; or (ciii) if, in any proceeding or action to which Tenant is a party, a receiver is appointed with authority to take possession of the Demised Premises. An involuntary assignment shall constitute a default an Event of Default by Tenant, Tenant and Landlord shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of Tenant.

Involuntary Assignment. No interest of Tenant CAC in this Lease shall be assignable by operation of law (including, without limitation, the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: (ai) if Tenant CAC is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a proceeding under the Bankruptcy Act in which Tenant CAC is bankrupt; or, if Tenant CAC is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; , (bii) if a writ of attachment or execution is levied on this Lease; Lease or (ciii) if, in any proceeding or action to which Tenant CAC is a party, a receiver is appointed with authority to take possession of the Premises. An involuntary assignment shall constitute a default by TenantCAC, and Landlord Owner shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of TenantCAC.

Involuntary Assignment. No interest of Tenant in this Lease shall be assignable by involuntary assignment through operation of law (including, including without limitation, limitation the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: (ai) if Tenant is or becomes bankrupt or insolvent, (ii) if Tenant makes an assignment for the benefit of creditors, or institutes if Tenant becomes a proceeding debtor in a case under the Bankruptcy Act in which Tenant is bankrupt; or, (or if Tenant is a partnership or consists of more than one person or entity, if any partner of the partnership or other such person or entity is or becomes bankrupt or insolventthe debtor), or makes an assignment for the benefit of creditors; (biii) if a writ of attachment or execution is levied on this Lease; or (civ) if, in any proceeding or action to which Tenant Xxxxxx is a party, a receiver is appointed with authority to take possession of the Premises. An involuntary assignment shall constitute a default by TenantXxxxxx, and Landlord shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of Tenant.

Involuntary Assignment. No interest of Tenant in this Lease shall be assignable by operation of law (including, without limitation, the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: (a) if Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a proceeding under the Bankruptcy Act in which Tenant is the bankrupt; or, or if Tenant is a partnership or consists of more than one person or entity, if any partner of the partnership or other such person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; (b) if a writ of attachment or of execution is levied on this Lease; or and (c) if, in any proceeding or action to which Tenant is a party, a receiver is appointed with authority to take possession of the Premises. An involuntary assignment shall constitute a default by Tenant, Tenant and Landlord shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of Tenant.